As financial professionals, our job is to constantly seek new and improved ways to strengthen our client’s financial future. Nothing could be more fitting and fruitful for us to accomplish such an all-important task as annual reviews.
Before we contact our clients to schedule an annual review, there are a few key principles to keep in mind. The primary goal and purpose of our annual review is to identify areas where we can make significant improvements together. In doing so, our annual review … [Read more...]

The article is critical for those:
That are age 55 or older
With parents or grandparents ages 55-75
Note: You could end up being a caregiver, so read on.
If you have not dedicated your career in the caregiving field, many people find being a caregiver to be extremely challenging. Please understand the caregiver I am referring to is the “informal caregiver” - someone who is not compensated for the work they do, but rather forced to frequently provide care for a loved one - alongside … [Read more...]

Sometimes you have to be creative. If a client wants long-term care coverage but doesn’t like the “use-it-or-lose-it” nature of traditional LTCi, try offering them agreeable, non-traditional forms of LTCi protection!
According to LongTermCare.gov, “Someone turning age 65 today has almost a 70% chance of needing some type of long-term care services and supports in their remaining years.” Today, LTC services can cost tens of thousands of dollars a year, depending on the type of service. And, … [Read more...]

A recent study conducted by MDRT reveals that although the majority (85 percent) of Americans say they are somewhat or very confident in their financial skills, only 55 percent of Americans without an advisor feel at least moderately comfortable explaining the implications of higher interest rates compared to 76 percent of Americans with a financial advisor.
Overall, 60 percent feel at least moderately comfortable explaining the implications of higher Federal interest rates to others. While … [Read more...]

Agents should review their client’s life insurance needs at least every five years, because in every stage of life, coverage is a necessity.
In an April 2018 LIMRA study, one in five people with life insurance said they don’t have enough, so a checkup can go a long way. Since September is Life Insurance Awareness Month, let’s review the life insurance needs at each life stage.
Single Adults
Single adults tend to neglect the need for life insurance since they have no one financially … [Read more...]

Producers who own their practice have the unique opportunity to increase its value and accelerate growth in order to form a sustainable business model and a legacy practice. Advisors in this position typically take one of two different approaches in their careers. Some operate their practice as though they are simply an employee rather than a business owner. On the other hand, an advisor with a business owner mentality can optimize their practice structure to increase their quality of life and … [Read more...]

More than 15,000 members from 53 countries attended the MDRT Annual Meeting this week in Los Angeles. Through 200 unique sessions and presentations, members exchanged innovative ideas to develop their personal lives and professional careers.
The 2018 Annual Meeting brought together key industry experts to share insights with members on a variety of topics such as practice management, retirement and wealth, Top of the Table, risk and products, marketing and the Whole Person concept. Members … [Read more...]

Consumers and advisors often feel annuities are difficult to understand and implement in financial plans. Many clients avoid them before they fully comprehend the benefits annuities can provide. While annuities are complex, conversations and guidance from financial advisors can help consumers clarify the role of these investable assets in financial plans. Financial advisors should arm clients with a holistic overview that includes both the advantages and disadvantages of annuities in order to … [Read more...]

Volatility Control Indices have become the new buzzwords in the fixed indexed product world. According to recent data from Wink, Inc.’s AnnuitySpecs tool, there are 78 indexing options that include volatility control. We get overwhelmed on a daily basis with back-casting and other statistics stating how well these various indices would have returned in the past. So, is the concept of volatility control an enhancement to this great product or another confusing variant?
First, a quick primer on … [Read more...]

A single long-term care insurance policyholder claim has exceeded two million dollars (actually $2.6M for a female). The largest claim still being paid to a male policyholder reached nearly $1.6 million.
Why is this important? First, it's the first time we've seen a single claim in excess of $2 million. Second, because consumers mistakenly perceive this protection in 'investment' terms … will I get my money back? Insurance agents need info like this to tell the story properly!
When it … [Read more...]